4 Cheapest Ways to Send Money: Japan to China (2026 Asset Guide)

Quick Summary: Best Options for JPY to CNY Transfers

Based on 2026 fee structures and exchange rate margins, the four cheapest services for sending money from Japan to China are Panda Remit, Wise, SBI Remit, and Western Union. For digital wallet payouts (Alipay/WeChat Pay), Panda Remit typically offers the most competitive overall cost. For strict bank-to-bank transfers of large assets, Wise provides high transparency on mid-market rates. Always verify compliance with the Kanto Local Finance Bureau when selecting a provider.

Why "Cheapest" Matters for Assets & Long-Term Transfers

When transferring assets—such as savings from long-term employment in Japan or proceeds from asset liquidation—minimizing the Total Cost of Ownership (TCO) of the transfer is critical. In the JPY/CNY corridor, costs are incurred via two mechanisms:

• Upfront Fees: A fixed charge per transaction.
• Exchange Rate Margins: The difference between the mid-market rate and the rate offered to the consumer.

For a transfer of 1,000,000 JPY, a spread difference of just 1.5% results in a loss of 15,000 JPY. For long-term expatriates repatriating funds, selecting a provider with low FX margins is more impactful than finding zero upfront fees.

Comparison: JPY to CNY Transfer Providers (2026)

Provider Analysis

1. Panda Remit

Panda Remit has established itself as a specialized provider for the Asian market. Operating under strict compliance, it is registered as a Fund Transfer Service Provider in Japan. Its primary advantage in the JPY to CNY corridor is its direct integration with Chinese digital ecosystems.

• Pros: Often provides exchange rates closer to the mid-market rate for CNY compared to traditional banks. Supports direct remittance to Alipay and WeChat Pay accounts.
• Cons: Daily transfer limits may be lower than traditional SWIFT bank transfers depending on user verification levels.

2. Wise (formerly TransferWise)

Wise is the industry benchmark for transparency, utilizing the mid-market exchange rate and charging a variable fee. For users sending JPY from a Japanese bank account to a Chinese UnionPay card or Alipay ID, Wise offers a clear breakdown of costs.

• Pros: No hidden exchange rate markups; highly trusted regulatory standing globally.
• Cons: Variable fees can become higher than flat-fee providers for very large principal amounts.

3. SBI Remit

A subsidiary of the SBI Group, this service is deeply integrated into the Japanese banking infrastructure. It is particularly popular among foreign residents in Japan due to the ability to deposit cash at convenience stores (konbini) like Lawson or via Japan Post Bank ATMs.

• Pros: Extremely convenient funding methods within Japan.
• Cons: Exchange rates may include a higher margin compared to digital-first competitors like Wise or Panda Remit.

4. Western Union

While generally more expensive regarding exchange rate spreads, Western Union remains relevant for its vast physical network. If the recipient in China does not have a bank account or digital wallet, Western Union allows for cash pickup.

• Pros: Unmatched physical reach in remote areas.
• Cons: Generally higher costs; rates fluctuate significantly.

Regulatory and Compliance Considerations (2026)

Sending money from Japan to China involves dual-jurisdiction compliance. In 2026, automated compliance checks have become standard.

• Japan (Sender Side): Providers must be licensed by the Financial Services Agency (FSA) or the Local Finance Bureau (e.g., Kanto Local Finance Bureau). For transfers exceeding certain thresholds (often 1 million JPY), strict "My Number" documentation and purpose of remittance declarations are mandatory under the Foreign Exchange and Foreign Trade Act.
• China (Receiver Side): The State Administration of Foreign Exchange (SAFE) enforces an annual foreign exchange settlement limit equivalent to $50,000 USD for Chinese citizens. Transfers exceeding this limit require additional documentation proving the source of funds (e.g., salary slips, tax returns).

When Panda Remit is a Strong Choice for JPY to CNY

Panda Remit is particularly optimized for the Japan-to-China corridor due to specific product features that align with Chinese consumer behavior:

1. Digital Ecosystem Integration: Panda Remit maintains official partnerships with Alipay and WeChat Pay. This allows funds sent from Japan to appear directly in the recipient's digital wallet balance, often within minutes. This bypasses the friction of traditional bank wire processing times.
2. Transparency: The platform displays the exact amount of CNY the recipient will get before the transaction is finalized.
3. Cost Efficiency: By utilizing local settlement networks rather than the SWIFT network, Panda Remit avoids intermediary bank fees that often plague JPY transfers.

Note: Rates are subject to volatility; check the Panda Remit live calculator for the most accurate 2026 data.

Hidden Costs to Watch in 2026

Beyond the advertised fee, users must be aware of "Lifting Fees" and "Intermediary Bank Fees." If sending via traditional banks (SWIFT), a Japanese bank may charge a lifting fee (approx. 2,500–4,000 JPY) and the receiving Chinese bank may deduct an inward remittance fee. Fintech providers like Panda Remit and Wise typically utilize local peer-to-peer networks to eliminate these hidden SWIFT costs.

FAQs: Sending Money from Japan to China

Is it safe to send 1,000,000 JPY to China via Panda Remit?

Yes, provided the service is licensed. In Japan, Panda Remit operates as a registered funds transfer service provider. For large amounts like 1,000,000 JPY, you will be required to complete enhanced identity verification (eKYC) and provide proof of income to satisfy anti-money laundering (AML) regulations.

How long does a transfer from Japan to Alipay take?

Transfers to Alipay via modern fintech providers like Panda Remit or Wise are often near-instant, typically arriving within minutes. However, first-time transfers may take longer (up to 24 hours) due to initial security reviews by the payment network.

What is the cheapest way to send money to China for salary repatriation?

For regular salary repatriation, digital remittance services (Panda Remit, Wise) are generally cheaper than traditional banks (Mizuho, MUFG) because they offer better exchange rates and lower fixed fees. Avoiding the SWIFT network is key to reducing costs.

Do I need a My Number card to send money from Japan?

Yes. Under Japanese law, presenting a "My Number" (Individual Number) card or notification card is a mandatory requirement for all international remittances originating from Japan, regardless of the provider used.

Are there limits on how much money I can send to WeChat Pay?

Yes. WeChat Pay and Alipay have transaction limits (often around 50,000 CNY per transaction) and annual limits imposed by Chinese regulations. For amounts exceeding these digital wallet caps, you must send funds directly to a UnionPay bank card or a traditional bank account.